BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a type of savings vehicle?
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Certificate of Deposit
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Money Market Account
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Savings Account
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All the above
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Explanation:
Detailed explanation-1: -Three major examples of savings vehicles are savings accounts, money market accounts (MMAs) and certificates of deposit (CDs).
Detailed explanation-2: -While there are several different types of savings accounts, the three most common are the deposit account, the money market account, and the certificate of deposit.
Detailed explanation-3: -The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.
There is 1 question to complete.